We are currently experiencing an unprecedented crisis derived from the Covid-19 pandemic, in fact, according to the International Labor Organization, this phenomenon is expected to make 6.7% of working hours disappear globally in the second quarter of 2020, which is equivalent to 195 million full-time workers.
However, where there is a crisis there are also opportunities. In this context, many companies have taken advantage of the moment to create, consolidate or promote an online window for their products and services. In the first month of confinement in Mexico alone, 2,500 SMEs started selling online (data from the Mexican Association of Online Sales), when before Covid-19 only 3 out of 10 SMEs did it.
Fortunately, in order to understand, adapt, and even grow in times of crisis, companies currently have various technological tools that they can draw on.
Data Analytics & Machine Learning
Why are they key for companies in times of crisis?
Machine Learning
What happens when technology, in addition to analyzing, acts by itself? The Artificial Intelligence-based tool that works through automated learning, also known as Machine Learning, is capable of evaluating data and making decisions with minimal human intervention.
This technology - present in a vast number of everyday instruments such as the recommendations of Netflix or Spotify, or the intelligent responses of virtual assistants of smartphones and speakers - has been with us for some years, however, it is now in moments of health contingency when it can be more useful given their ability to recognize patterns.
For sample purposes, it is enough to mention that Machine Learning is very useful for the early diagnosis of diseases since the systems that incorporate this technology can "learn" when the conditions exist for a patient to suffer a disease. In time of disease spread, this tool can analyze and predict which patients and in which areas are the greatest vulnerabilities, in order to act more quickly.
This technology - present in a vast number of everyday instruments such as the recommendations of Netflix or Spotify, or the intelligent responses of virtual assistants of smartphones and speakers - has been with us for some years, however, it is now in moments of health contingency when it can be more useful given their ability to recognize patterns.
For sample purposes, it is enough to mention that Machine Learning is very useful for the early diagnosis of diseases since the systems that incorporate this technology can "learn" when the conditions exist for a patient to suffer a disease. In time of disease spread, this tool can analyze and predict which patients and in which areas are the greatest vulnerabilities, in order to act more quickly.
For companies and organizations this is not much different. The unprecedented adaptability and invention that tools like Machine Learning have gives them a great advantage in the market, especially in times of crisis. Whether in sectors such as finance, creating algorithms to foresee changes in the market- or in Retail eCommerce -balancing supply and demand-, the advantages of this technology are invaluable.
Finally, and as a reflection on a complex-looking scenario, it is important to highlight that, from this new social and commercial order, many companies will find technological tools such as Analytics, Big Data, Machine Learning and Data Engieneering, among others. , a lever of transformation and growth.
If you want to know how your company can make it happen, Enki has services tailored to your needs to improve your competitiveness in the market.
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